2.2 Sales Foeecasting Flashcards
1
Q
Purpose
A
Predict future sales w past sales and statistical methods
Eg extrapolation trends or correlation
2
Q
Customer trends
A
Conern over body
Seasonal v
Lifestyke
Fashion
3
Q
Econ variables
A
Growth,inflation, interest rates, price elasticity
4
Q
Actions of comp
A
Rivals need campaigns to divert attention so high costs
5
Q
Benefits
A
Essential for hr plan,prod capacity, comp analysis to focus on market research
6
Q
Difficulties
A
Fluctuations of econ v
Quality of data too much
Itp bias so plan w precision and contingency dates for unforeseen
